Leggett & Platt Incorporated Employee Benefit Fund

Nonprofit profile at a glance

EIN
431466425
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Carthage, MO, USA
Phone
4173588131
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$86,928,279
Expenses
$87,544,587
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

1 person listed

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide for payment of hospitalization, medical, and other welfare benefits to persons who are eligible in accordance with the terms of the plans.

What it reported doing in 2024

Benefits to or for members (health insurance benefits). Total number of members at 12/31/2024: 5,701. Total number of claims worked in 2024: 143,819.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Member-benefit provider. The nonprofit used 99% of its reported program spending for member benefits.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 87
  • Sustainability: 22
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97%; rating input score 97
  • Program expense ratio: 96.3%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 34th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.7%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 98; 98th percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: -5.6% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 97% of revenue deployed · 96.3% of spending went to programs
  • Governance: 7 of 8 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $84.3M in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Highest-paid contractors: 2 contractors listed · $3.2M reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Board meeting minutes documented not reported.
  • High — Growth: Asset growth scored 0/100.